The price band has been fixed between Rs 170 and Rs 192 per equity share. The issue will close on August 1, 2008. The issue has been assigned an IPO grade of 3 out of 5 by rating agency, CRISIL Ltd.
The company intends to utilise the proceeds from the Issue to meet the cost of capital expenditure, overseas acquisitions and augmenting the long term working capital requirement amongst others.
The equity shares of the company are proposed to be listed on BSE and NSE. The book running lead managers to the Issue are SPA Merchant Bankers Limited and India Infoline Limited.
We recommend only long term investors to invest in this IPO. Investors looking for listing gains should avoid this IPO owing to volatile markets.
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